Owens Corning Inc (NYSE:OC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Owens Corning Inc (NYSE:OC) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $157.9167.

Several brokerages have recently issued reports on OC. JPMorgan Chase & Co. upped their price target on shares of Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Barclays raised their price objective on Owens Corning from $144.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Royal Bank Of Canada boosted their price objective on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Wednesday, July 15th. Finally, Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th.

Insider Activity at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president directly owned 3,093 shares of the company’s stock, valued at $374,005.56. The trade was a 38.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.

Institutional Trading of Owens Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Pictet & Cie SA boosted its holdings in Owens Corning by 5.0% in the fourth quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock valued at $46,172,000 after acquiring an additional 19,553 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Owens Corning by 178.2% during the 4th quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock worth $20,888,000 after purchasing an additional 119,566 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Owens Corning during the 1st quarter worth approximately $2,576,000. Raiffeisen Bank International AG lifted its position in shares of Owens Corning by 12.4% in the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock worth $39,976,000 after purchasing an additional 38,885 shares during the period. Finally, Mirabella Financial Services LLP acquired a new position in shares of Owens Corning in the 3rd quarter worth approximately $5,889,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Down 0.6%

Shares of Owens Corning stock opened at $139.00 on Friday. The firm’s 50 day moving average is $130.69 and its 200 day moving average is $123.26. The firm has a market capitalization of $11.19 billion, a PE ratio of -21.03, a price-to-earnings-growth ratio of 2.71 and a beta of 1.30. Owens Corning has a 1 year low of $97.53 and a 1 year high of $159.91. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Equities research analysts forecast that Owens Corning will post 9.55 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, July 20th. This represents a $3.16 annualized dividend and a yield of 2.3%. Owens Corning’s dividend payout ratio (DPR) is currently -47.81%.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.